Suraksha Diagnostic IPO booked 25% on Day 2; check latest GMP, subscription status & other details | Stock Market News
Source: Live Mint
Healthcare services provider Suraksha Diagnostic Limited’s initial public offering (IPO) has so far received a muted response. Opened for public subscription on November 29, the IPO was subscribed 25 per cent on the second day of bidding as investors bid for 34,00,068 shares, compared to the 1,34,32,533 shares on offer. The public offer is a book-built issue offering 1.92 crore shares, aiming to raise ₹846.25 crore from the public market.
Out of the three bidding segments, retail investors led the second bidding day, subscribing to 45 per cent of the shares on offer. Non-Institutional Investors (NIIs) followed the retail bidders and subscribed to the IPO 13 per cent. The Qualified Institutional Buyers (QIB) segment remained unsubscribed from foreign investors, domestic financial institutions and mutual funds, according to the data collected from BSE.
Suraksha Diagnostic IPO will close on Tuesday, December 3. The company raised ₹253 crore from the anchor investors ahead of the public issue. The price band for the IPO has been fixed in the range of ₹420 to ₹441 per share, with a lot size of 34 equity shares per lot.
The shares are expected to be listed on the domestic stock market on Friday, December 6.
Suraksha Diagnostic IPO latest GMP
As of December 2, the grey market premium (GMP) for the Suraksha Diagnostic IPO stands at ₹0 or nil per share. This means the shares are expected to be listed at ₹441, the upper price band, without a premium or a loss percentage, according to data collected from Investorgain.com.
The grey market premium (GMP) is the investors’ willingness to pay more for a public issue.
Suraksha Diagnostic IPO Details
Suraksha Diagnostic Limited is a radiology testing and medical consultancy service company. It has a central reference laboratory with 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30. These facilities are present across West Bengal, Bihar, Assam, and Meghalaya, according to Chittorgarh data.
The company aims to enhance its presence in its operating regions, focusing on Kolkata, said Anand Rathi Research Team in a report on the public offer, marking an ‘Avoid’ rating for the IPO.
ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers for the Suraksha Clinic and Diagnostic IPO. Kfin Technologies serves as the registrar for the issue.
